DAFYDD Wigley is to step down as chairman of the company which runs Bangor University’s Management Centre.

He has chaired MDC Ltd for the past three years and prior to that chaired the working group that developed the project and helped secure Objective 1 funding to enable the £14m scheme to proceed.

“Recent developments have enabled the company to move on to a new plateau of operations and I feel that the time is therefore appropriate for me to stand down from chairing the company,” said Mr Wigley.

“It is also opportune as the shareholders - the university - move to appoint new board members.”

He added: “We have during the past two months secured funding to enable the Môn Block to be refurbished, providing 48 additional bedroom spaces for those attending courses, seminars and conferences at the Management Centre.

“Bangor University has also made available up to £1m of working capital.”

Mr Wigley will continue to chair the advisory board of Bangor Business School.

Rachel Lomax, former vice-chair of the Bank of England, Peter Griffiths, chief executive of the Principality Building Society, and Ian Williams, North Wales director of the Welsh Assembly Government, will shortly join the advisory board.

MDC Ltd is a company wholly-owned by Bangor University and was established to run the Management Centre at arm’s length from the university.

The centre provides training both for people from the North Wales business community and for students from overseas.